SAVii Salary Loans gives employees of partner companies a way to get a loan with repayments linked to their salary. Monthly interest starts from 0.5%, no prior credit score is needed to apply, and the offer available to you depends on your eligibility.
SAVii Salary Loans: best loan for salary-linked repayments?
If you prefer to get a loan with repayments handled through payroll, SAVii offers automatic deductions at source. You select your desired repayment amount during the application, and the fixed deduction is taken from your salary while you receive the remaining balance.
Your chosen loan amount, interest rate and term affect the repayment cost. For illustration, PHP 500,000 at 3.5% monthly over 12 months produces approximately PHP 59,167 in monthly repayments and PHP 210,000 in total interest using the supplied calculator example.
Should I get a salary loan from SAVii?
SAVii may suit employees who want to get a loan through an employer-linked service with straightforward documentation.
Before submitting your loan application, check the salary you will have left after deductions and review the complete repayment cost. SAVii presents automatic deductions as a way to avoid missed payments and late-payment penalties, but you should confirm the conditions.
How to get a loan from SAVii
To prepare your SAVii Salary Loans loan application, you will need to:
- Confirm employer participation: Check whether your employer is partnered with SAVii.
- Have an account: Register through the SAVii app to view the borrowing options available to you.
- Prepare two IDs: Have the identification documents requested during the application ready.
- Prepare your payslips: Submit the payslips required to support your salary information.
- Select an available amount and term: Choose from the options offered based on your eligibility.
- Check affordability: Make sure the salary remaining after deductions can cover your other expenses.
- Undergo assessment: Not needing a prior credit score does not mean approval is automatic.
How to apply for the loan
- Visit the SAVii Salary Loans page: Select the application or eligibility button.
- Download the SAVii app: The linked access page now directs users to download the app, as website login and signup are no longer available.
- Register or sign in: Follow the app’s instructions and confirm your employer information.
- Check your available options: Review the amount, interest rate and repayment terms offered to you.
- Choose your financing: Select your preferred amount and repayment period.
- Submit your documents: Provide the required two IDs and payslips, together with the requested application details.
- Review the terms: Check the salary deduction, total repayment amount and any applicable charges before accepting.
- Wait for assessment and release: SAVii reports 80% of applications approved within 24 hours and 90% of approved loans disbursed within 48 hours. These statistics do not guarantee your individual processing time.
- Repay through salary deductions: The agreed fixed amount is automatically deducted from your salary.
Frequently asked questions
Can I get a loan from SAVii even if I am unemployed?
SAVii Salary Loans is designed for employees of partner employers, with repayments deducted from salary. If you are unemployed, you would not meet that employment-based access condition for a new loan application.
How much can I get approved for under SAVii Salary Loans?
The calculator displays a loan amount range from PHP 5,000 to PHP 500,000. Your actual borrowing limit depends on your eligibility. Register through the SAVii app to see the amounts available to you.
How can I fully pay off SAVii Salary Loans?
Scheduled repayments are automatically deducted from your salary. If you want to settle the remaining loan amount early, contact SAVii support for a settlement quotation, payment instructions and confirmation of any applicable charges. The salary-loan page does not specify an early settlement fee.
How can I cancel my loan application with SAVii?
Contact SAVii support through its Help Center or contact page and request cancellation of your loan application.
Explain whether you have already accepted the terms or received the funds, so SAVii can confirm the procedure and any conditions that apply.